Home NFTs Ethereum NFTs One-Way Ticket to the Bitcoin Network NFT Plazas

Ethereum NFTs One-Way Ticket to the Bitcoin Network NFT Plazas

0 comment

As the Bitcoin NFT trend continues unabated, Ethereum token holders are given the opportunity to migrate their assets to the network. But what is called a “bridge” might be better described as an “exile.”

Milady Maker Tribute Project, Bitcoin Miladysis affiliated with Ordinal’s Market and xverse Launched “Ordinal’s Bridge”. Effectively, this new portal offers Ethereum ERC-721 NFT holders the opportunity to migrate their assets to the Bitcoin network. The team accomplishes this feat by entrusting the original NFT to Burnwallet and recreating it on the other side using the new “BRC-721e” token standard.

Ethereum NFTs migrated to Bitcoin raise eyebrows

The potential migration of Ethereum NFTs raises philosophical conundrums within the folds of blockchain. The term “writing” is a misnomer, since NFTs are inherently not erased or destroyed. Instead, it is entrusted to a wallet that no one can control, effectively removing it from circulation.

Previously, when bridging an NFT to another blockchain, the original was held in place until the owner wanted to restore it to the original chain. But Bitcoin’s solution involves removing the original from circulation and replicating it on a new chain, raising the question of whether it is a true representation of the original in the first place. But despite these doubts, as always, it’s the market that makes the decisions.

want more? Connect with NFT Plaza

Join our weekly newsletter
Join us on Discord
follow me on twitter
Like us on Facebook
Follow us on Instagram

Image credits:

*All investment/financial opinions expressed by NFT PLAZA are based on the site moderator’s personal research and experience and are for educational material only. Individuals should thoroughly research any product before making any type of investment.

index (2)

About Us

Coingeography is a principal independent digital media resource with a coverage of comprehensive news on Crypto assets, NFT, Metaverse and the surging Web 3 space. We here deliver the most authentic and precise news from the arena of the Web 3 space and crypto assets. 

Feature Posts

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Copyright ©️ All rights reserved. | CoinGeography – Powered by Corum8